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olya-2409 [2.1K]
3 years ago
6

1. Contrafic Corporation used the following data to evaluate its current operating system. The company sells items for $21 each

and used a budgeted selling price of $24 per unit. Actual Budgeted Units sold 180,000 units 185,000 units Variable costs $1,080,000 $1,295,000 Fixed costs $ 800,000 $ 775,000 What is the static-budget variance of operating income
Business
1 answer:
olga_2 [115]3 years ago
6 0

Answer:

 $470,000 F

Explanation:

The computation of the static budget variance of operating income is shown below:

Particulars  Actual results         Static budget         Static budget variance Units sold        180,000 units        185,000  units

Revenues        $3,780,000            $4,440,000             $660,000 U

Variable costs  $1,080,000            $1,295,000              $215,000 F

Contribution margin  $2,700,000   $3,145,000             $445,000 F

Fixed costs         $800,000              $775,000              $25,000 U

Operating income   $1,900,000     $2,370,000            $470,000 F

Note:

Multiply the selling per unit with unit sold to get the revenue amount

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Answer:

The cost for conversion as per equivalent unit of production is $5.85

Explanation:

Formula for cost of conversion per equivalent unit of production =

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CALCULATING TOTAL COST =

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3 years ago
Camaro GTO Torino Cash $ 2,000 $ 110 $ 1,000 Short-term investments 50 0 580 Current receivables 350 470 700 Inventory 2,600 2,4
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Answer:

<u>Current Ratio :</u>

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GTO = 3.5

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<u>Acid Test Ratio :</u>

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Torino = 0.84

Explanation:

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8 0
2 years ago
Universal Containers has two sales groups. Each group has its own unique sales process. What is the best way to ensure that sale
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Answer:

The use of a proper CRM.

Explanation:

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Which of the following statements are TRUE about credit scores?
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3 0
3 years ago
Read 2 more answers
You need a 30-year, fixed-rate mortgage to buy a new home for $210,000. Your mortgage bank will lend you the money at a 7.1 perc
miskamm [114]

Answer:

$573,963

Explanation:

First, calculate the present value of the loan payments using the following formula

PVA = PMT x [ ( 1 + r )^n - 1 ] / [ r ( 1 + r )^n)

PVA = $950 x [ ( 1 + 7.1%/12 )^360 - 1] / [ 7.1%/12 ( 1 + 7.1%/12 )^360)

PVA =  $141,362.32  

Now calculate the difference of Value of loan and the present value of loan payment

Difference = Loan value - PV of loan payment = $210,000 - $141,362.32 = $68,637.68

This te Ballon payment in present value term, We need to determine the value at the end of the loan term.

Hence we need to calculate the future value of this payment as follow

Future value = Present vale x ( 1 + Monthly Interest rate )^numbers of months

Future value = $68,637.68 x ( 1 + 7.1%/12 )^360

Future value = $573,963.09

Future value = $573,963

Hence the ballon Payment will be $573,963

7 0
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